对现金流量报表相关目标的量化分析外文翻译.docx
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对现金流量报表相关目标的量化分析外文翻译
QuantitativeAnalysisoftheTargetRelatedtoCashFlowStatement
Withtheexampleofthetrendanalysismethodappliedtothecashflowstatement,theauthorsstudythequantitativeanalysismethodofthetargetrelatedtocashflowstatement.Sothestatementusercanknowsthecurrentandpreviousfinancialconditionintheenterprises,correctlyevaluatethecurrentandfutureabilitiestopayandrepay,findouttheproblemsinfinancialaffairs,andscientificallycalculatethefuturefinancialconditions.Anadequate,efficientbasisisprovidedforscientificdecision.
1Introduction
ItwasAmericathatfirstdecidedtoreplacestatementofchangesinfinancialpositionwithcashflowstatement.Afterwards,U.K.,Australia,Canadaandmanyothercountriesandareasfollowed.Toemphasizecashflowstatementandovercometheshortcomingsofstatementofchangesinfinancialposition,inJanuary,1987,FASBinAmericapromulgatedfinancialaccountingstandardsannouncementNo.95《CashFlowStatement》.ItrequiresenterprisetoreplacethestatementofchangesinfinancialpositionwithcashflowstatementfromJuly1988.InSeptember,1991,BritishAccountingStandardBoardannouncedfinancialstatementstandardNo.l《CashFlowStatement》too,demandsallenterprises.Concernedwiththerequirementsshouldpreparecashflowstatement.In1992,InternationalAccountingStandardBoardannounced《lnternationalAccountingStandardsNo.l》,requiredtoreplacestatementofchangesinfinancialpositionwithcashflowstatement.Sonow"cashflowstatement","equity-debtstatement",and"profitandlossstatement"havepreliminarilyformedthenewsystemoffinancialaccountingstatementinenterpriseontheworldwidescale.
2CashFlowStatement
2.1ContentsofCashFlowStatementandItsCompilationPurpose
Cashflowstatementmeansstatementofchangesinfinancialpositioncompiledbasedoncashandshowsoperatingactivities,investmentactivitiesandcollectingcapitalactivitiesoftheenterpriseonaccountofflow-inandflow-outofcashduringacertainperiod,andshowsallaspectsofflow-inandflow-outofcash.Itiscompiledonthecashbasisofaccountingandbelongstoperiodicdynamicstatement.Thebasicpurposeofcompilingcashflowstatementistoprovidetheinformationofflow-inandflow-outofcashduringacurrentaccountingperiodtoshareholders,creditorsandotherusersofthestatementtohelpthemcorrectlymakeassessmentof:
·TheCapabilityofobtainingnetcashflowduringthefutureaccountingperiod;
·TheCapabilityofrepaydebtsandpayingdividend;
·TheCapabilityofraisingfunds;
.Thereasonforengenderingthedifferenceofnetincomeandnetcashflow;and,
·Investmentandraisingfundsactivitiesaffectingandnotaffectingcashduringthecurrentperiod.
2.2ComponentsofCashFlow
(1)Cashflow-in
Therearethreechieftypesofeconomicservicesflow-inofcash:
Reducingotherassetsexceptcashaddingdebtsandaddingshareholder'sright.
(2)Cashflow-out
Therearethreechieftypesofeconomicservicesflow-outofcash:
Addingotherassetsexceptcash,reducingdebtsandreducingshareholder'sright.
2.3ClassificationofCashFlow
Cashflowwithinacertainperiodisclassifiedintothefollowingthreetypesonaccountofthe
natureofoperationservice:
Thecashflowofoperationactivities,thecashflowofinvestmentactivitiesandthecashflowofraisingfundsactivities.
(1)Cashflowofoperationactivities
Operationactivitiesmeanthemainserviceofanenterpriseandothernon-investmentactivitiesorraisingfundsactivities.Itincludes:
Cashflow-inofoperationactivities:
Theinputofsellinggoodsandprovidinglabourforce;theinputofloaninterest,stockdividendandbondinterest;otherinputofnotbelongingtoinvestmentactivitiesandraisingfundsactivities.
Cashflow-outofoperationactivities:
Thecashofpayingtosuppliersandprovidersoflabourforce;theexpenditureofsalary;theinteresttocreditor;theexpenditureoftaxonincomeandpenalty.
(2)Cashflowofinvestmentactivities
Investmentactivitiesmeanpurchaseandsellingoflong-termassetandotherinvestmentswithoutthecapeofcashequivalent.Itincludes:
Cashflow-inofinvestmentactivities:
recoveringloan;sellingstocksandbondsissuedbyothercompanies;sellingfixedassetsandotherproductiveassets.
Cashflow-outofinvestmentactivities:
providingloantootherenterprises;purchasingstocksandbondsissuedbyothercompanies;purchasingfixedassetsandotherproductiveassets(includingcapitalizedinterestofassetcost).
(3)Cashflowofraisingfundsactivities
Raisingfundsactivitiesmeantheactivitiestocausethescaleandstructureofrightsandinterestcapitalandotherloantochange.Itincludes:
Cashflow-inofinvestmentactivities:
issuingstocks.,bondsandbill;gainingmortgageloansandallkindsofotherlong-termandshort-termloans.
Cashflow-outofinvestmentactivities:
issuingstockinterestincash;repayingloans;precedingexpendituretocreditor(includingcashexpenditurecausedbyextendedlong-termdebt).
2.4StructureofCashFlowStatement
Therearetwomethodstocompilecashflowstatement:
directmethodandindirectmethod.Thestructureofcashflowstatementcompiledbythetwomethodsisdifferent.ThisarticlerecommendsthebasicstructureofcashflowStatementcompiledbydirectmethodandusuallyadoptedbyenterprises.Thebasicstructureofcashflowstatementiscomposedofthreeparts:
Cashflowofoperationactivities.ThedataneededbythispartmaybefoundinB/S(balance
sheet)andincomesheet.
Cashflowofinvestmentactivities.Theinformationneededbythispartmaybefoundfromthechangeofcurrentassetaccount,butthetruedataneedtobeadjustedonaccountofincomeorlossinincomesheet.
Cashflowofraisingfundsactivitieswhichmaybeobtainedbyanalyzingandcomputingthechangeofrelevantcurrentliabilityandshareholder'srightsandinterestsaccount.
Non-cashinvestmentandraisingfundsactivitieswhichmaybediscoveredinthesupplementarystatementstoshowallaspectsofimportanteconomicactivities.
2.5CompilationofCashFlowStatement
Theinformationthatisneededforcompilingcashflowstatementincludes:
beginningbalancesheet,finaltrialbalance,othercomplementarydata,etc.Cashflowstatementiscompiledonaccountoftheoriginalmanuscript.
3QuantitativeAnalysisofRelevantQuota
Quantitativeanalysisofcashflowstatementistocompare,analyzeandstudyrelevantdataofcashflowstatementsoastoknowthefinancialpositionofenterprise,findoutthetroubleinfinance,predictthefuturefinancialpositionandprovidethebasisforscientificdecision.
Themethodsofquantitativeanalysisofcashflowstatementusuallyincludetrendanalysis,structureanalysis,rateanalysis,comparativeanalysisandfactoranalysis.Thisarticleonlyrecommendstrendanalysisappliedtocashflowstatement.
Trendanalysisisananalysismethodwhichforecastsfutureresultsbystudyinganumberof
continualperiods''-financialstatement,comparingrelevantprogram'samountofmoneyandanalyzingtheincreaseanddecreaseofsomequotastojudgeitstrend.Applyingtrendanalysis,theuserofstatementmayknowthebasictrendofrelevantprogramchanges,judgewhetherthistrendisadvantageousornotandpredictthefuturedevelopmentoftheenterprise.
Trendanalysisusuallycomputestrendpercentages.Therearetwotypesoftrendpercentages:
Itisillustratedbythecashflowstatementofsometelecommunicationbureau.Wecompilecashflowstatementgatheredfrom1995to1998ofthisbureauonaccountofcashflowstatementsfrom1995to1998ofthisbureau(statementfrom1995to1998omitted).Theformofcashflowstatementandthedataofthisbureauin1998areshownasinTable1:
Table1Cashflowstatementofatelecommunicationbureau
Enterprise:
Year:
1998Unit:
Thousandsofdollars
CashflowAmount
1Cashflowofoperation
Cashflowin:
Cashfromsalesclients85890
Otheroperationincome(12019)
Sub-totalfcashflowin73871
Cashflowout:
Payingsuppliers(40871)
Payinginterests(1287)
Payingotherexpenses(19585)
Payingincometax(2546)
Sub-totalofcashflowout(25119)
Netcashofoperation48752
2Cashflowofinvestment
Cashflowin:
Recoveryofcashfrominvestment68000
Recoveryofcashrelateto18500
investmentactivities
Sub-totalofcashflowin86500
Cashflowout:
Equipmentpurchasing(66676)
Sub-totalofcashflowout(66676)
Netcashofinvestment19824
3Cashflowofraisingfunds
Cashflowin:
Cashfromloan36220
Cashacceptingrightsandinterests15081
Sub-totalofcashflowin51301
Cashflowout:
Cashrepayedfordebts(16254)
Sub-totalofcashflowout(16254)
Netcashofraisingfunds35047
4Effectsofexchangefluctuationsoncash
5Netincreasedcashflow103623
Thearticleonlycitesthedatafrom1995to1998tocomputethetrendpercentagebythetrendanalysismethod.
Table2Thetotalcashflowstatement
Enterprise:
Unit:
Thousandsofdollars
Cashflow1995199619971998
Cashincome187500203136207752211672
Among:
cashm-68465701257153273871
comeofoperation
Cashincomeof40680654217634586500
investment
Cashincomeof78355675905987551301
raisingfunds
Cashexpenditure622337976591815108049
including:
Cashexpenditure15908198802290525119
ofoperation
Cashexpenditure32905408955469066676
ofinvestment
Cashexpenditure13420189901422016254
Ofraisingfunds
Thedatacomefromtheannualaccountantstatementsfrom1995to1997(omitted